Bloomberg - Dec 14, 2009Dubai World
-
Gary Jenkins
at
Evolution Securities"A rally on Abu Dhabi's support is clearly helping Asian and European credit this morning," Puneet Sharma , head of credit strategy at Barclays Capital in London, wrote in a note to investors. Credit default swaps on DP World Ltd. , the Middle East's biggest port operator and a unit of
Dubai World, fell 128 basis points to 443, according to CMA. Abu Dhabi slipped 12.5 basis points to 148 and Abu Dhabi National Energy Co fell 32 to 217. Qatar dropped 9 to 99.5. The decline in default swaps tied to Dubai government debt was the biggest since Feb. 23, when the U.A.E's central bank bought $10 billion of the Gulf state's bonds.
Very Good News' Abu Dhabi's support for its neighbor "will no doubt be taken as very good news by the market," Gary Jenkins , head of credit research at Evolution Securities Ltd in London, wrote in a note.
Share:
"A rally on Abu Dhabi's support is clearly helping Asian and European credit this morning," Puneet Sharma , head of credit strategy at Barclays Capital in London, wrote in a note to investors. Credit default swaps on DP World Ltd. , the Middle East's biggest port operator and a unit of <span class="company">Dubai World</span>, fell 128 basis points to 443, according to CMA. Abu Dhabi slipped 12.5 basis points to 148 and Abu Dhabi National Energy Co fell 32 to 217. Qatar dropped 9 to 99.5. The decline in default swaps tied to Dubai government debt was the biggest since Feb. 23, when the U.A.E's central bank bought $10 billion of the Gulf state's bonds. <span class="sent"> Very Good News' Abu Dhabi's support for its neighbor "will no doubt be taken as very good news by the market," <span class="analyst">Gary Jenkins</span> , head of credit research at Evolution Securities Ltd in London, wrote in a note. </span>..."A rally on Abu Dhabi's support is clearly helping Asian and European credit this morning," Puneet Sharma , head of credit strategy at Barclays Capital in London, wrote in a note to investors. Credit default swaps on DP World Ltd. , the Middle East's biggest port operator and a unit of <span class="company">Dubai World</span>, fell 128 basis points to 443, according to CMA. Abu Dhabi slipped 12.5 basis points to 148 and Abu Dhabi National Energy Co fell 32 to 217. Qatar dropped 9 to 99.5. The decline in default swaps tied to Dubai government debt was the biggest since Feb. 23, when the U.A.E's central bank bought $10 bi
Tweet this